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just for the record, starting in 2001-8, fannie mae and freddie mac purchased 30 percent of the portfolio. that means low picus court. so they have been brewing this risk, giving its homeowners of canada for the loans. suddenly everyone goes to moscow, my gosh. those eu evil banks lend me money when i could not afford to repay it. we have to draw the line somewhere. gerri: and i have a question for you. one of the findings that the sec talked about in their conference call with reporters and others was that the number of people who are harmed financially by these loans, only six and a half% of the total. this is interesting because you would think that everybody who would be eligible for money who would get money would have been harmed financially. it seems that that is not the case of all. how do you respond to that? >> if you talk to the independent consultants out there that we have been talking to, they are telling guess is that they were just getting that information now, and they were finding wide spread abuses by these banks, but now they're stopping. the one time in really history
just for the record, starting in 2001-8, fannie mae and freddie mac purchased 30 percent of the portfolio. that means low picus court. so they have been brewing this risk, giving its homeowners of canada for the loans. suddenly everyone goes to moscow, my gosh. those eu evil banks lend me money when i could not afford to repay it. we have to draw the line somewhere. gerri: and i have a question for you. one of the findings that the sec talked about in their conference call with reporters and...
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Jan 11, 2013
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mac. the worst is on the general motors, most jobs saved or not even in this country. you are looking at him dumping close to $30 billion on the tax payers. general motors was angry that because the american people on the stock, they could not give themselves big bonuses and drive private jets. he just sold off some of the stock, it allowed them to buy private jets again. he is looking at dumping the rest at a loss of $30 billion to the taxpayers. host: that was marlene from new jersey. i will not announce the name i in because i will miss it up. give us a call for the remaining time we have on this topic taking a look at timothy geithner's service. we had about 30 or so comments on the facebook page when the show started. probably more now. if you want to add on to that, facebook.com/cspan. stories from the paper this morning, "the new york daily news." that is from "the daily news." florida up next, warren on the democrats' line. caller: yes, i am very -- host: i'm going to ask you to st
mac. the worst is on the general motors, most jobs saved or not even in this country. you are looking at him dumping close to $30 billion on the tax payers. general motors was angry that because the american people on the stock, they could not give themselves big bonuses and drive private jets. he just sold off some of the stock, it allowed them to buy private jets again. he is looking at dumping the rest at a loss of $30 billion to the taxpayers. host: that was marlene from new jersey. i will...
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Jan 10, 2013
01/13
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according to freddie mac the average rate i of 3.4% comparedo the all-time record low of 3.31. the week of november 21. shares of supervalu are soaring led by cerberus capital management. the deals worth $3.3 billion includes 877 stores. that is latest from the fox business network giving you the power to prosper. dennis: every movie buff's favorite time of year, oscar season. nominations coming out this morning and leading the pack with 12 nominations is steven spielberg civil war saga "lincoln." how much do translate to wall street. we're joined by fox news dr. oscar. and senior analyst for s&p capital. let's start with you because i know you have an s. berge two obsession with this film. >> i have been doing oscar films for many years now. the best film has to be the snub toward ben affleck director nomination on "argo." who's donated golden globe, i thought he was a shoo-in next month for the oscars. this is a great injustice, i'm more upset than ben affleck. dennis: what about kathryn bigelow. i thought it was because hollywood feels like you endorsed torture, what do you
according to freddie mac the average rate i of 3.4% comparedo the all-time record low of 3.31. the week of november 21. shares of supervalu are soaring led by cerberus capital management. the deals worth $3.3 billion includes 877 stores. that is latest from the fox business network giving you the power to prosper. dennis: every movie buff's favorite time of year, oscar season. nominations coming out this morning and leading the pack with 12 nominations is steven spielberg civil war saga...
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Jan 10, 2013
01/13
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that is the new 30 year fixed rate mortgage rate from freddie mac. still unbelievably low. never expected to see 3.4. new at 10:00 new rules might make it tougher for you to buy a home. the consumer financial protection bureau will impose a range of restrictions on lenders including making sure borrowers will be able to afford their mortgage. that means the bank has to make sure that you can repay. they have to make sure you have a job, you have income, you got good credit, the onus is on the bank in the future. charles: this is the first time the government said this is what we call qualify loan. they are making that determination, total debt can't be above 43% of monthly income including mortgage. banks don't have to go this route but if they do they are 4 different protections from all the new rules they will be hit with this avalanche of the rules so anything that doesn't want to comply with this, more than likely will be taking a huge risk and also probably be charging exorbitant amount of fees from the borrowers and this hurts the lower end and ignores the realities o
that is the new 30 year fixed rate mortgage rate from freddie mac. still unbelievably low. never expected to see 3.4. new at 10:00 new rules might make it tougher for you to buy a home. the consumer financial protection bureau will impose a range of restrictions on lenders including making sure borrowers will be able to afford their mortgage. that means the bank has to make sure that you can repay. they have to make sure you have a job, you have income, you got good credit, the onus is on the...
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Jan 15, 2013
01/13
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mac which were taken into receivership at the very beginning of the crisis because of the losses they suffered on mortgages and because of their low levels of capital. at think their is a pretty widespread agreement in washington that reform is needed for those institutions and the treasury has put out some alternative suggestions, other suggestions have been made by members of congress that so far not too much progress has been made in that area and is one pretty obvious area that needs to be addressed. i would say that, you know, the dodd-frank bill is very broad and has covered a lot of the major parts of the financial system. >> this question comes from an audience member. how do you respond to people who question the constitutionality of the federal reserve and would like to severely weaken it and furthermore, respond to members of congress who wish to audit the fed? >> , and not a lawyer, so -- never mind. i am not a lawyer, but the fed has been around for a century and nobody so far has had a supreme court case. i'm not going to get into that issue. i think the fed performs the
mac which were taken into receivership at the very beginning of the crisis because of the losses they suffered on mortgages and because of their low levels of capital. at think their is a pretty widespread agreement in washington that reform is needed for those institutions and the treasury has put out some alternative suggestions, other suggestions have been made by members of congress that so far not too much progress has been made in that area and is one pretty obvious area that needs to be...
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Jan 10, 2013
01/13
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and what about housing, fannie mae, freddie mac? another big topic on the table. and dodd-frank does not fix or finish the too big to fail issue. that remains on the table. then there's all the stuff we used to think about the treasury secretary's job. the spokesman for the greenback, negotiating with china, and other of our trading partners. and, of course, the g-20, the imf, the world bank, and of course, the business community. so, if you could take a wider view of all this, the debt ceiling that was always sort of there never quite as intense as it is now. global finance, bigger part, almost a new job for the treasury secretary. oh, i didn't even mention dealing with iran and sanctions. and of course this was the normal brief of the treasury secretary. joe, i have to say that i've covered seven treasury secretaries, in various forms of intensity over the years. jack lew is probably comes to the job with the least independence of any of the seven. whether or not he can gain that independence in the job, unclear to me. i would point out that that independence is
and what about housing, fannie mae, freddie mac? another big topic on the table. and dodd-frank does not fix or finish the too big to fail issue. that remains on the table. then there's all the stuff we used to think about the treasury secretary's job. the spokesman for the greenback, negotiating with china, and other of our trading partners. and, of course, the g-20, the imf, the world bank, and of course, the business community. so, if you could take a wider view of all this, the debt ceiling...
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Jan 10, 2013
01/13
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fannie mae and freddie mac as well as more on too big to fail. that's some of the new stuff. how about the old stuff in not an easy job either. he's the main spokesman for the greenback. he will negotiate with china and other partners, as well. and then he's the representative when it comes to the g-20, the imf, world bank and of course what about that other thing, he is the liaison with the business community. if we take a wider view, clearly lew's expertise is right here. he'll have to get up to speed on these issues especially when it comes to financial regulation. he did spend some time at citigroup. and over here, you either grow into this job or you don't. figure out how to talk to the market about the dollar or you mess it up. and simon, you've been doing this almost probably as long as i have and you know every treasury secretary comes to that test on speaking about the dollar, they tend to fail it it the first time, but then get it right for the rest of the tenure. >> for as long as 20 years they've been talking about a strong dollar policy. let me ask you the centra
fannie mae and freddie mac as well as more on too big to fail. that's some of the new stuff. how about the old stuff in not an easy job either. he's the main spokesman for the greenback. he will negotiate with china and other partners, as well. and then he's the representative when it comes to the g-20, the imf, world bank and of course what about that other thing, he is the liaison with the business community. if we take a wider view, clearly lew's expertise is right here. he'll have to get up...
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Jan 25, 2013
01/13
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he and philip swegell published an op-ed on fixing fannie mae and freddie mac. perhaps the only alum to land back in government, bob steel, former domestic expert at wachovia, sold to wells fargo. he's now new york city's deputy mayor for economic development. quite a yearbook of people, carl. back to you. >> interesting to watch where those people go in the year ahead. thanks, kayla. want to draw your attention to exxon and apple. exxon reclaiming the mantle as the world's most valuable company. .07%. that caps what's obviously been a tough week for apple. you can see the stock now at 443.90. when we come back, the company helping people around the world pay for online shopping without a credit card or bank account. we'll find out how it's done when we come back. [ male announcer ] some day, your life will flash before your eyes. make it worth watching. introducing the 2013 lexus ls. an entirely new pursuit. we all work remotely so this is a big deal, our first full team gathering! i wanted to call on a few people. ashley, ashley marshall... here. since we're o
he and philip swegell published an op-ed on fixing fannie mae and freddie mac. perhaps the only alum to land back in government, bob steel, former domestic expert at wachovia, sold to wells fargo. he's now new york city's deputy mayor for economic development. quite a yearbook of people, carl. back to you. >> interesting to watch where those people go in the year ahead. thanks, kayla. want to draw your attention to exxon and apple. exxon reclaiming the mantle as the world's most valuable...